a very basic rc-car racing game could go nice(re-volt anyone?)
nearly dont need any complex animations, there wont be a lot of interaction with the enviroment, models can be low poly, enviroment models will mostly be small props.

On gameplay there are 2 options, either programming car ai or making it multiplayer.

If a small game that doesnt have many features finishes succesfully, then group may proceed on adding features to game, like upgrading cars and stuff.